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Problem 1: On January 1, 2021, Ripped Company classified non-current assets as held for sale that had a carrying amount of P2,500,000. On this date, the assets are expected to be sold for P2,300,000. Reasonable and expected disposal cost to be incurred for sale was expected at P100,000. By December 31, 2021, the asset had not been sold and the management after considering its options decided to place back the non-current asset into operations. On that date, Ripped Company's managers estimated that the non-current asset was now expected to be selling at P1,800,000 with disposal cost of P50,000, while depreciation for 2021 was computed at P500,000 if the non-current asset was not classified as held for sale. How much is the additional loss that shall be reported in the 2021 statement of comprehensive income?
Chaz Corporation has taxable income in 2018 of $426,000 for purposes of computing the §179 expense and acquired the following assets during the year.
Compute the amount to be paid for each of the four separate invoices assuming that all invoices are paid within the discount period.
Knollwood Corporation issued $300,000 of 30-year, 8 percent bonds at 106 on one of its semiannual interest dates. The straight-line method of amortization is to be used. Illustrate what is the total interest cost of the bonds?
Worst Buy Company has had a lot of complaints from customers of late, and its stock price is now only $4 per share. It is going to employ a one-for-six reverse stock split to increase the stock value. Assume Dean Smith owns 108 shares.a
Calculation of no. of days in conversion cycle - how much cash would be freed up, and how would that affect pre-tax profits
Find the net present value (VNP) and the internal rate of return (IRR) from the data Monthly income of 25,000,000 usd with increases of 2% from the third period
Accounting information systems have five generic parts (inputs, processes, outputs, storage, and internal control). Choose two examples of applicable internal controls for Storage.
Calculate the increase or decrease in profit. Calculate the increase or decrease in total assets, total liabilities and total equity.
Discuss all three companies above and find (via electronic journals) the events that led up to the liquidation. Visit the CPA website; discuss APES 110 Code
In dealing with the price data and returns data of an asset over time i..e. historical data, what is an appropriate measure of AVG return?
Explain the significance of financing with accounts payable. Also, explain the rationale of taking a cash discount, such as 2/10, net/30.
Find What is the effective annual rate of interest on the loan from computer sales firm? The J. B. Marcum Company needs $250,000 to finance new minicomputer.
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